Can I list the RMD for 2 accounts that have the same name if I didn't withdrawal anything from 1of the accounts? Total withdrawal is more than required for both.

Forum|Forum|1 year ago
February 18, 2025
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Only received one 1099, so don't have to list in the income for the second account (both under same name). Where would I list the RMD for the account that I didn't receive a 1099. W/D from first account is more than enough to cover both.

MinhT1

An IRA owner must calculate the RMD separately for each IRA that he or she owns, but can withdraw the total amount from one or more of the IRAs.

If you are sure that you have satisfied all RMD requirements, then in TurboTax, on the form 1099-R for RMD withdrawal, answer that The entire distribution was an RMD then on the following page, to the question What is the RMD for your account? enter the amount of the distribution from that IRA account.

By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.

Similarly, a 403(b) contract owner must calculate the RMD separately for each 403(b) contract that he or she owns, but can take the total amount from one or more of the 403(b) contracts.

However, RMDs required from other types of retirement plans, such as 401(k) and 457(b) plans have to be taken separately from each of those plan accounts.

Please read this IRS FAQ for more information.

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